Hydro-Québec argues that the cost of electricity associated with the project is around 6.4 cents per kilowatt hour. Bernard wonders how Hydro-Québec arrives at this figure.

"When the project was first announce, Hydro-Québec estimated a cost of about 10 cents per kWh. And here they come with this new figure of 6.4. Meanwhile, the only real change, it was lower interest rates," he said.

According to his calculation, the lower rates on loans from Hydro-Québec allows a reduction of half a percent on the cost per kWh, and no more.

According to him, the real cost of the project would approach around 8.6 cents per kWh.

"Even with a cost of 6.4 cents per kWh, it's higher than the [sale] price of 5.8 cents they reached with the Vermont for 500 megawatts over the past year. The company's main argument is that the price of electricity will increase. But we do not know what the price will be in 20-25 years. At most, we know that for 5-10 years, the price of electricity will be dominated by gas prices and the price dropped a lot and is not about to pick up," he said.

Some food for thought for anyone thinking of becoming a blue-eyed sheikh by selling "robust" Muskrat Falls power to New England.